Spain's unemployment rate declined to 15.98 percent in the first quarter of 2021 from 16.13 percent in the previous three-month period and below market expectations of 16.6 percent. Still, the jobless rate remained above the 14.41 percent recorded in the first quarter of 2020, when the coronavirus pandemic first hit the labor market. The number of unemployed people decreased by 65.8 thousand from the previous period to 3.654 million and employment dropped by 137.5 thousand to 19.207 million. By sector, unemployment decreased in services (down 97,500) due to the economic reopening, but rose in agriculture (up 3,100), industry (up 1,400) and construction (up 1,100). The labor force participation rate dropped to 57.69 percent, from 58.19 percent in the previous period. source: National Statistics Institute (INE)
Unemployment Rate in Spain averaged 16.45 percent from 1976 until 2021, reaching an all time high of 26.94 percent in the first quarter of 2013 and a record low of 4.41 percent in the third quarter of 1976. This page provides the latest reported value for - Spain Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Unemployment Rate in Spain is expected to be 15.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Spain to stand at 15.20 in 12 months time. In the long-term, the Spain Unemployment Rate is projected to trend around 14.40 percent in 2022 and 13.70 percent in 2023, according to our econometric models.